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Do You Need an LLC For Shopify?

Snyder

If you’re an ecommerce business owner, you must have heard about LLCs, and you might be confused about whether you need one for your Shopify store. When it comes to taxes, make sure you’re using the best accounting software for Shopify you can find, so you can keep all your tax-related information straight. . What Is an LLC?

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How To Make Quarterly Estimated Taxes Online — Illinois IDOR

Nancy McClelland, LLC

Reminder: Due to a new law , Illinois S-Corp and Partnership owners should generally pay quarterly IL state ( not federal) taxes through the business. The post below is about how to pay IL taxes personally ; click here for how to make IL business tax payments. There are multiple options for paying personal quarterly estimated taxes.

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S corp vs C corp vs LLC: What’s the difference, and which one is better for your business?

ThomsonReuters

Jump to: What are the main types of business ownership? Choosing the right business structure for entrepreneurs Business owners can structure their companies in several different ways , depending on the size of the business, its growth potential, how the business is managed, how the owners want to be taxed, and many other variables.

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2022 Minimum Wage and Overtime Salary Threshold Increases

ThomsonReuters

The state does not permit the use of a tip credit. . The state does not permit the use of a tip credit. . Effective July 1, 2022, $15 per hour for large businesses (more than 100 employees); $13.50 per hour for small businesses (100 or fewer employees). . per hour for businesses with 10,000+ employees; $13.50

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Year-End Reminders For Chicago Small Business Owners

Nancy McClelland, LLC

Chicago businesses should take a moment to review upcoming changes before year-end. It applies to any business or individual that employs at least one “employee” and has a facility within Chicago’s city limits (though Cook County followed suit a few months later and has a similar requirement). –This doesn’t happen often.–

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New WCO product classifications are here. Are companies ready?

ThomsonReuters

Without it, businesses wouldn’t be able to clear customs when importing components or, on the outbound side, when exporting their finished goods.”. The ‘what can go wrong’ falls into two buckets: compliance problems and business problems,” Thompson explained. Business impacts can be even more dire. Are companies ready?

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Important Changes for Chicago Businesses, Effective July 1, 2022

Nancy McClelland, LLC

The Chicago Department of Business Affairs and Consumer Protection (BACP) released this information recently , much of which affects small business owners in the city. The Chicago minimum wage is tiered for large businesses with 21 or more employees, and small businesses with 4-20 employees. Minimum Wage Increase.

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